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Oil Company "LUKOIL"

June 30, 1997

LUKOIL, Ministry of Railways sign cooperation agreement

June 30, 1997 - LUKOIL and the Russian Ministry of Railways today have signed a cooperation agreement under which the freightage of petroleum products will be increased and transportation costs reduced.

In the period until 1999 inclusive, LUKOIL will purchase from the Ministry of Railways an additional 1,500 tank cars for transporting light petroleum products and supply the Ministry's enterprises with fuel and lubricants in the priority order and at stable prices. The Ministry of Railways in turn will create proper conditions for the implementation of the reached agreements and offer the LUKOIL-Trans company, LUKOIL's main transporter, a flexible tariff scheme in domestic and export shipments.

Also, a LUKOIL facility for rolling stock repairing will be built in Volgograd.

LUKOIL President Vagit Alekperov said at the signing ceremony that the agreement with the Ministry of Railways is opening a new chapter in cooperation between different industrial branches, in this case between oil-industry and railway workers. He also expressed hope that this cooperation will have a positive impact on the Russian economy in general.

 

 


Press Centre  OAO "LUKOIL"
phone.: (095)927-1677,  fax: (095)927-1653,
E-mail: pr@lukoil.com

 

 

 

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